KCB Bank Kenya
KCB M-PESA Fixed Savings
Fixed deposit
What is this?
A fixed savings you open in M-PESA. You put in a lump sum and lock it for a set time.
The details that matter for this kind of plan
| Interest | KCB markets “over 8.5% p.a.” (no public rate card). |
|---|---|
| Term options | 1 to 12 months. |
| Early break | If you break early you forfeit all interest. |
What does it cost you?
| Penalty for taking money out early | Nothing |
|---|
What if you stop paying?
There are no monthly payments. Your money stays until maturity.
What if you need the money early?
You can break it early, but you lose all interest.
Who this suits
It could work for you if
You save on your phone and want a short fixed term with a clear rule.
Think twice if
You need to access the money before the end of the term.
How openly does this company explain its charges?
DHides more than it shows
5 of 9 answered
- What do they charge you every year?This kind of charge does not exist on this product.
- What is taken off the money you pay in?This kind of charge does not exist on this product.
- What does it cost to get out early?No exit penalty is printed in the sources we checked.
- What is the smallest amount you can start with?KES 500.
- How long is your money tied up?They do not say how long you are tied in.
- Is the advertised return before or after their charges?This product does not advertise a return.
- Do they warn you the return is not guaranteed?This kind of product does not advertise a return.
- Do they tell you what you get back if you stop early?You get whatever your money is worth on the day. There is no schedule.
- Do they list what is not covered?This is not insurance, so there is nothing to exclude.
- Are all their charges published?Yes, every charge they mention has a figure against it.
- Do they say who regulates them?They do not say who supervises them.
This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.
Things to know before you sign
- · A fixed savings placed from M-PESA with a lock period of 1–12 months.
- · Minimum to open is KES 500.
- · Breaking early forfeits all interest.
Compared with the others
There are 6 other plans of this kind on the board. See all 7 side by side — what each one leaves you with, and which of them will not say.
What the documents actually say
Every figure above was read out of a document. These are the sentences, word for word, so you can check them rather than take our word for it.
“Early or premature redemption will forfeit all interest acquired.”
“Open this account with a minimum of Kes 500 and earn interest of over 8.5%* p.a., on your accumulated savings.”
“Put money away in a fixed deposit or target savings account, and grow your money at an interest rate of over 8.5%* p.a.”
“Put money away ... locking your money for a period of 1 up to 12 months.”
“Save as little as Kes.50; the more you save, the higher you grow your credit limit.”
“Qualifying interest / Interest — 15%”
Where we got this
- KCB M-PESA — Fixed Savings Account pagethe company itselfRead on 2026-08-22
- KCB M-PESA — Product overviewthe company itselfRead on 2026-08-22
- KRA — Withholding Tax (Interest) ratesthe regulatorRead on 2026-08-22